Over 60,000 persons, including 1300 high risk persons, identified for investigation into claims of excessive cash sales under Central Board of Direct Tax (CBDT)’s Operation Clean Money (OCM) Extensive enforcement action by the Income Tax Depart
Various tax exemptions have been given to Startups in the recent past -Following direct tax incentives were provided in Income-tax Act,1961 (‘the Act’) to promote Start-ups through Finance Act,2016:Introduction of new section 54EE in Inco
In order to improve the Ease of Doing Business for newly incorporated corporates, CBDT has tied up with Ministry of Corporate Affairs (MCA) to issue Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) in 1 day.Applicant companies su
Draft of Notification to be issued under third proviso to the clause (38) of section 10 of the Income-tax Act, 1961In exercise of the powers conferred by third proviso to the clause (38) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Cen
Department of Revenue, Ministry of Finance achieves phenomenal success towards eliminating Domestic Black Money in last three years; 23064 searches/surveys have been conducted (Income Tax 17525; Customs 2509; Central Excise 1913; Service Tax 1120); M
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesSection 139AA of the Income-tax Act, 1961 as introduced by the Finance Act, 2017 provides for mandatory quoting of Aadhaar / Enrolment ID of Aadhaar application f
Budget 2017 takes Steps to discourage Cash transactions & curb Black Money Various legislative steps have been taken by the Finance Act, 2017 to curb black money by discouraging cash transaction and by promoting digital economy. These prominentl
Revenue Department exceeds Revised Tax Collections target for 2016-17 around 18% taken together in case of Direct and Indirect Taxes; Provisional figure of Total Tax Collections in 2016-17 is Rs. 17.10 Lakh Crore as against the Revised Target of Rs.
Central Board of Direct Taxes requests for stakeholder�s comments on draft of Notification to be issued Under Section 10(38) of the Income-tax Act, 1961 Section 10(38) of the Income-tax Act, 1961 (�the Act�), prior to its amendment
1. Reactivation of the link ‘Know your PAN/TAN/A.O.’ at the website of Income-tax department Some recent changes were reported by the members at the E filing website of the Income-tax department due to which the link ‘Know your PAN
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